Risk Management

Security foundations for a project should be strongly laid in the initiation phase, preferably when the project charter is created and signed to document all possible risks, threat vectors and security loopholes, and should include conceivable remediation measures. Internal, external and technology-related risk are examined in alignment with project management processes.

Find answers to these questions and more in this Risk Management Practice Area. If you are new to Risk Management, take advantage of the resources below and don't be shy about commenting or asking questions. If you're a seasoned pro, help others out and become an influencer. We welcome contributions from all sources and the more you participate, the more visible you become. Let us help you move down the road from "giver of sage advice" to "Thought Leader".

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Risk, cybersecurity, artificial intelligence, the Internet of Things—as technology transforms project management, PM professionals are either ahead of the game, or falling behind. Stay current and competitive with the 2017 PMI Information Systems & Technology Symposium. Exclusive to PMI members, this free, virtual event delivers a full day of intelligence on innovation and its impact on your PM career.
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Learn From Others

System archetypes are reoccurring patterns of behavior that can be found in any type of organizational system. They serve us as effective tools to diagnose projects, identify and manage risks, and point out underlying structures that are signaling where fundamental decisions must be made in order to fix a root cause.

Leaving a career as an IT professional to become a principal in a video-content firm, the author thought he might also be leaving his project management practice behind. But in the middle of his first film project, wondering how to achieve his next milestone, he realized how his project management skills would transfer into his new role.

Strategic risk management belongs in any collection of organizational process assets! By examining domain-specific types of risks (strategic, operational and tactical) and how corporations react to them, this article demonstrates why strategic risk is of the utmost importance to corporate governance and, by extension, to the chairman and board of directors.

There are various common but inaccurate methods of accounting for risk. Some fallacies are more common than others—and some are potentially more dangerous. This article will focus on three fallacies of risk that are common to many projects—and that have the potential to derail even the most responsible project manager.

Effective decision-making requires forecasting the outcome of each option based on the probability of alternative scenarios. As a project manager, you must become the financial advisor on your project. Management reserve should be added to your baseline costs, then used to manage the uncertainty of risks and to mitigate variability.

Software upgrades are a necessary part of the information systems life cycle and there are various requirements that drive the need for upgrades. Upgrading systems is not an easy process, but utilizing best practices and applying PMI’s project management principles can play a big part in ensuring a positive outcome.

Congratulations! You’ve made it into the ranks of project management practitioners! This seasoned practitioner shares some of the crucial lessons he has learned over the years to help you on your exciting journey.